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Category Archives: FHA

Is Your Condo Complex Still HUD Approved?

In general, condominiums are popular among first time homebuyers. In addition, FHA mortgages are a popular financing option for first time homebuyers because of the low down payment (3.5%). However, if a buyer is purchasing a condominium and is obtaining an FHA-insured Mortgage, the condominium complex must be on a list of HUD approved complexes and […]

Changes To FHA Mortgage Insurance Premiums

Effective April 18, 2011, mortgage insurance premiums will increase for 30-year FHA mortgages assigned a FHA case number on or after April 18, 2011: Loan to Value Down Payment Old Annual Premium % New Annual Premium % 96.5%-95.01% 3.5% – 4.99% .90% 1.15% 95% or less 5% or more .85% 1.10% Effective April 18, 2011, mortgage insurance premiums […]

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